University of Nebraska Group Long
Term Care Insurance Program
Employee Presentation
Underwritten by Genworth Life Insurance Company. ©2015 Genworth Financial, Inc. All rights reserved. 45145V 03/12/15
2LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Today’s Topics
•An Introduction to Long Term Care (LTC) and Long Term Care Insurance (LTCI)
The Three Key Decisions
Additional Benefits & Eligibility
Summary & Next Steps
3LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Why Purchase Long Term Care Insurance?
•Protect Savings
Helps protect the money you’ve
been saving for retirement,
education, etc.
•Protect Family
Helps protect your family and
friends from the impacts of
caregiving.
•Maintain Choice & Control
Helps keep your options open
about how you receive care.
•Stay At Home
Helps reimburse expenses to
make home modifications and
receive home care where you’re
most comfortable.
4LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Myths & Realities
“It won’t happen to me.”
At least 70% of people over 65 will
need long term care services and
support at some point*
“My insurance will cover me.”
Neither disability nor health
insurance are designed to cover
long term care expenses
“The government will pay
for the care I need.”Medicare & Medicaid
benefits are very limited and
you may not qualify
*2015 Medicare & You, National Medicare Handbook, Center for Medicare and Medicaid Services, revised September 2014. For
copies of this publication, call 1-800-MEDICARE.
5LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Long Term Care Insurance May Be More
Affordable Than You Think
Purchase
Age
CostPer Month
Age 45 $27.94
Age 50 $34.72
Age 55 $46.12
Age 60 $67.70
Premiums vary by age
Coverage for a 40-year old under
this program can be as low as
$26.52 per month – less than a
dollar a day.
This displays example premiums for a plan design of $100 Daily Benefit and $73,000 Total Coverage at a variety
of ages. It assumes no FPO elections are exercised and no premium increases occur. Actual premiums depend
on the age, plan design and options selected.
6LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
How Do You Qualify For Benefits?
If you need help with at least 2 of the 6 Activities of Daily Living (ADLs), and help is expected
to last at least 90 days.
A severe cognitive impairment that requires substantial supervision also makes you eligible
to qualify.
When you need long term care, the elimination period is the time period during which you
must pay for your own care without being reimbursed under the policy.
Need For Care May Arise From:
Injuries caused by accidents
Illnesses like Multiple Sclerosis
Diseases like Alzheimer's or Parkinson’s
Strokes or other chronic conditionsTransferringToiletingContinence
Dressing EatingBathing
LTCI can help reimburse the cost of LTC servicesthat help people perform everyday activities
7LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
How Does Long Term Care Insurance Work?
A “Pool of Benefits”
LTCI provides a pool of benefits
(Total Coverage Maximum) that
can reimburse long term care
services when and where
needed.
•Home & Community Care
• Nurses & Therapists
• Home Modifications
• Adult Day Care
• Incidental Home Maker & Chore Care
•Nursing Facility Care
Provides more skilled care, supervision,
medication, therapies and rehabilitation
•Assisted Living Facility Care
Allows you to live independently with
on-site support for daily basics
8LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
The Three Key DecisionsBasic Choices to Customize Your Plan
The examples that follow reflect plan design options and premiums available to your group. Your actual premiums will depend on your age and the plan design you choose. Examples assume no premium increases occur, except as anticipated with acceptances of the FPO Benefit Increase Option.
All cost of care information shown is based on Genworth’s 2015 Cost of Care Survey, conducted by CareScout® 4/2015.
9LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
$100 $150 $200
Three Key Decisions
1Daily Benefit Amount
2Total Coverage Maximum
$73,000 $109,500 $146,000
$109,500 $164,250 $219,000
$146,000 $219,000 $292,000
Benefit Increase Option
3
Select aDaily Benefit Amount
Select a Total Coverage Maximum
Select a Benefit Increase OptionBuy More Coverage Over Time
Automatic 3% Compound for Life
Automatic 5% Compound for Life
10LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Three Key Decisions
Cover the daily cost of care
in the area where you might retire• 100% for nursing home & assisted living
• 60% for home & community care
1 Daily Benefit Amount
2Total Coverage Maximum
$73,000 $109,500 $146,000
$109,500 $164,250 $219,000
$146,000 $219,000 $292,000
Benefit Increase Option
3
Buy More Coverage Over Time
Automatic 3% Compound for Life
Automatic 5% Compound for Life
$100 $150 $200
11LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Select a Daily Benefit to cover the daily cost of care in your area
Step 1: Choose a Daily Benefit
12LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Three Key Decisions
Cover the daily cost of care
in the area where you might retire• 100% for nursing home & assisted living
• 60% for home & community care
1 Daily Benefit Amount
2Total Coverage Maximum
$73,000 $109,500 $146,000
$109,500 $164,250 $219,000
$146,000 $219,000 $292,000
Benefit Increase Option
3
Buy More Coverage Over Time
Automatic 3% Compound for Life
Automatic 5% Compound for Life
Have enough coverage to
last ~3 years
$100 $150 $200
13LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Select a Total Coverage Maximum that will cover ~3 years of care
Step 2: Choose Your Total Coverage
=Years of
Care
Target
Total Coverage
Maximumx
Assisted Living Facility
(A private room)$48,612
x3
$145,836
Home Health Care
(44 hours with a licensed home health aide @ $20 per hour)
$51,480$154,440
$270,465Nursing Home
(A semi - private room)$90,155
Cost for
1 Year of Care
14LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Three Key Decisions
Cover the daily cost of care
in the area where you might retire• 100% for nursing home & assisted living
• 60% for home & community care
1 Daily Benefit Amount
2Total Coverage
Maximum
$73,000 $109,500 $146,000
$109,500 $164,250 $219,000
$146,000 $219,000 $292,000
Benefit Increase Option
3
e
$100 $150 $200
Have enough coverage to
last ~3 years
Keep up with the
cost of care in the futureBuy More Coverage Over Time
Automatic 3% Compound for Life
Automatic 5% Compound for Life
15LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Premiums for additional coverage under the FPO option are based on your age when you accept your increase offer.
5% Compound
Automatic Increase for Life
• Available for an additional premium.
• Premiums stay level but costs most at issue
3% Compound
Automatic Increase for Life
• Available for an additional premium.
• Premiums stay level but costs more than FPO at issue
Buy More Coverage Over Time (FPO)
• Coverage can increase every 3 or 6 years
• Default option. Costs less at issue but increases with each additional purchase
Select an option to help your coverage keep up with inflation
Step 3: Choose A Benefit Increase Option
16LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Additional Benefits Included in Your Plan
Waiver of Premium
Waives premiums if you are receiving care in a nursing facility or at home. It also waives premiums while bed reservation & hospice benefits are being paid.
Bed ReservationReimburses charges to reserve your accommodations in a nursing or assisted living facility while you are away for any reason.
Hospice CareReimburses charges up to the applicable daily Benefit.
Refund of PremiumReturns all or a part of the premiums you’ve paid if you die
International CoverageReimburses covered care and services received outside the United States
17LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Additional Benefits Included in Your PlanThat May Help You Stay At Home
Respite Care
Reimburses charges up to the applicable Daily Benefit to give an unpaid caregiver short term relief.
Home Assistance
Reimburses up to 3 times the Daily Benefit Amount for home modifications, support equipment and caregiver training.
Informal CareReimburses cost of services provided by a friend or family member
Additional Benefits You May Select
Nonforfeiture Benefit• Provides reduced coverage in event of lapse for any reason
• Requires coverage in force for at least three years
18LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
• Actively at work, full and part time (20 hours) employees
• Employee’s spouse or domestic partner under age 76
• Employee’s Parents and Parents-in-law under age 76
• Employee’s Grandparents and Grandparents-in-law under age 76
• Employee’s Spouse/Partner’s Adult Children and Siblings under age 76
Who is Eligible to Apply?
To be eligible, each applicant must maintain a permanent U.S. residence,
and have a valid Social Security Number or Tax Identification Number from
the U.S. government.
Each person must apply separately.
19LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
Enrollment Medical Underwriting
* Pre-Existing Conditions Limitation: We will not pay for Covered Expenses incurred for any care or confinement that is a result of a Pre-
Existing Condition when the care or Confinement begins within twelve months following the initial certificate effective date. A pre-existing
condition means a condition (illness, disease, injury or symptom) for which medical advice or treatment was recommended by, or received
from, a health care professional within six months prior to the initial certificate effective date.
Applicant Application
Eligible Full-Time Employee New Hires up to and including age 65 during new hire period
Modified Guarantee Issue Comprehensive (MGIC)• 2 question form• Height / weight parameters• Pre-Existing Conditions Limitation applies*
Eligible Full-Time Employee New Hiresages 66 and above during new hire period
Eligible Full-Time Employees outside of new hire period
All Other Applicantsages 18-75
Long Form• Medical records are requested• Full medical underwriting, which may include:
- Paramedical exam- Functional/Cognitive Assessment- Phone Health Interview
• Underwriting requirements may
change.
• You may not qualify due to future
health issues.
• Your premiums will be established
at your older age & higher rate.
If you postpone the decision to buy…
$47
$77
$169
$447
Buy Today(Age 45)
Wait 10Years
Wait 20Years
Wait 30Years
Why Act Now?
This example is case specific and presents one of the plan designs available. It assumes no FPO elections are exercised and no premium increases occur. Additional options are available at different costs.
EXAMPLE BASED ON
$150 Daily Benefit
$164,250 Total Coverage
FPO Benefit Increase
LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/groupltc Group ID: Nebraska Code: groupltc 25
21LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
• Spouses/partners and other family members 18-75 can also apply with these
customized group rates
• A 30 day free look is available
• Care coordination and other additional benefits are included at no additional cost
• Coverage is portable - you can take it with you if you leave your job or retire
• Flexible choices to match your needs and your budget
• Easy enrollment by web or paper
Available Billing Options• Direct bill on quarterly, semi-annual or annual basis or monthly electronic funds
transfer
Key Advantages of This Program
The Nebraska Long Term Care Partnership
• Recognizes Partnership Qualified Long Term Care Insurance
• Helps to protect assets for residents who purchase Partnership Qualified LTCI
• Gives dollar-for-dollar asset protection for each dollar of benefits paid under qualified long term care insurance
Partnership Qualified Long Term Care Insurance
• Insurance under this Group Program qualifies where certified
• The appropriate inflation protection option must be selected
- If you are not yet 76, 3% or 5% Compound Automatic Benefit Increases for Life BenefitIncrease Option
- If you are older than 75, inflation protection is not required.
Long Term Care Insurance Partnerships
State regulations may change. This information is current as of January 2016
LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska 27
2
3
1
Three Key Decisions
Monthly Benefit Amount
Total Coverage Maximum
Benefit Increase Option
LEARN MORE GET A QUOTE APPLY ONLINEEmployees: Visit your Benefits PlatformFamily: Visit www.genworth.com/benefitfocus
24LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
www.genworth.com/nebraskaOR
Apply Online Call Customer Service
Next Steps
Take advantage of this limited-time offer of reduced underwriting during the enrollment period / Review your coverage options now:
1 800.416.3624
Talk to your spouse/partner, parents, parents-in-law, and grandparents about this program. They are also eligible to apply up to age 76.
25LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
• Rates are designed and priced for long term stability-however they could increase
• There is an elimination or waiting period.
• Care not covered includes:– Care for which no charge is made in the absence of insurance
– Care outside US except as covered by the international benefit
– Care by immediate family member except as covered by the informal care benefit
– Care by Veterans Administration or other government facility
– Care by a Worker’s Compensation or occupational disease act or law
– Care resulting from war or act of war, suicide or self inflicted injury, participation in a riot or felony, service in the armed forces, alcoholism or drug addiction
– Care or confinement that is the result of a pre-existing condition when such care or confinement begins within twelve months following your certificate date.
• Non-Duplication of Benefits. We will reimburse only for covered expenses that exceed the amounts payable under:– Medicare (including amounts reimbursable in the absence of a deductible or coinsurance amount)
– Any federal or state worker’s compensation, employer’s liability, or occupational disease law
– Any other federal, state or government health care or long term care program, except Medicaid.
• Coordination of Benefits: This program coordinates its benefits with all other group long term care insurance coverage that you have.
Details You Should Know
View important details in the Outline of Coverage at www.genworth.com/groupltc
26LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska
• This insurance program is underwritten by Genworth Life Insurance Company.
• Coverage is provided under group policy 16189 issued to University of Nebraska using policy form 7053. Form numbers can vary by state, including a state specific variation. For example, in PA, the certificate form number may read 7053CRT-PA.
• Coverage is intended to be tax qualified under IRS code 7702(B).
• State variations may apply. Refer to your outline of coverage for specific definitions, benefits, features, exclusions and limitations.
• This material is part of a solicitation for Group Long Term Care insurance.
Additional Disclosures
[26]
27LEARN MORE GET A QUOTE APPLY ONLINEwww.genworth.com/nebraska